Clarkson PLC AGM and Interim Management Statement (7159G)
09 Maggio 2014 - 1:00PM
UK Regulatory
TIDMCKN
RNS Number : 7159G
Clarkson PLC
09 May 2014
9 May 2014
CLARKSON PLC
("Clarksons" or "the Group")
AGM and Interim Management Statement
Clarksons, the world's leading shipping services group, has
today announced its Interim Management Statement published in
accordance with the UK Listing Authority's Disclosure and
Transparency Rules, for the period from 1 January 2014 to 8 May
2014 ("the period").
At the Annual General Meeting to be held in London today, Bob
Benton, interim Chairman of Clarksons, will make the following
statement:
Trading
Activity in a number of shipping markets has improved compared
to the same period last year, with increases in both asset values
and volatility in rates as a result of the reduced imbalance
between supply and demand.
Broking
The average ClarkSea Index for the period was higher than the
average for the whole of 2013. The strength and breadth of our
teams has meant that we have been at the forefront of activity,
once again improving transaction volumes across most chartering
sectors, and from the sale and purchase of underlying assets.
Financial
Our Financial businesses have continued to increase
profitability and are currently at or above breakeven, reflecting
the effects of management action and investment in capability.
Revenue from banking transactions and equity sales and trading
within Clarkson Capital Markets has continued to grow. Futures
broking revenue within Clarkson Securities has also increased, due
to increases in market volumes and higher rates which have resulted
from greater volatility.
Support
As expected, our port and agency business has already benefited
from the Gibb Tools acquisition made at the end of 2013.
Research
Research underpins all of Clarksons' services and in challenging
trading conditions the value it offers our clients is more
important than ever. We continue to grow and develop the breadth
and depth of our offer and have seen an increase in sales from
research activities during the period.
Board Changes
As previously announced, Philip Green resigns from the board
today. The board would like to thank Philip for his contribution
over the past year and wish him well with his new endeavours.
Peter Backhouse, Clarksons' senior independent director, is
leading the search process for a new chairman.
Outlook
Clarksons' trading in 2014 is in line with the Board's
expectations, representing a significant improvement over the
results of 2013. This is despite the weakness in the US dollar, the
principal trading currency for the Group.
Our proven strategy and strong balance sheet enable us to
provide the best service to our clients and, with market conditions
continuing to improve, the Board looks forward to the future with
confidence.
Enquiries:
Clarkson PLC:
Andi Case, Chief Executive
Jeff Woyda, Finance Director 020 7334 0000
Hudson Sandler:
Andrew Nicolls
Katie Matthews 020 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
END
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